Zai Lab, a Chinese cancer biotech advancing late-stage drugs licensed from large pharmas, announced terms for its IPO on Friday.
The Shanghai, China-based company plans to raise $100 million by offering 5.9 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Zai Lab would command a fully diluted market value of $901 million.
Zai Lab was founded in 2013 and it plans to list on the Nasdaq under the symbol ZLAB. J.P. Morgan, Citi and Leerink Partners are the joint bookrunners on the deal. It is expected to price during the week of September 18, 2017.
